Bristol-Myers Squibb Company (BMY)

Debt-to-assets ratio

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020
Long-term debt	US$ in thousands	47,603,000	48,674,000	48,858,000	49,487,000	36,653,000	32,137,000	34,656,000	35,078,000	35,056,000	36,966,000	37,107,000	37,450,000	39,605,000	39,677,000	42,503,000	44,505,000	48,336,000	41,364,000	41,853,000	42,844,000
Total assets	US$ in thousands	92,603,000	93,670,000	94,646,000	99,031,000	95,159,000	91,263,000	93,489,000	94,281,000	96,820,000	98,196,000	100,357,000	103,034,000	109,314,000	110,893,000	110,797,000	112,435,000	118,481,000	125,536,000	128,076,000	129,285,000
Debt-to-assets ratio		0.51	0.52	0.52	0.50	0.39	0.35	0.37	0.37	0.36	0.38	0.37	0.36	0.36	0.36	0.38	0.40	0.41	0.33	0.33	0.33

December 31, 2024 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $47,603,000K ÷ $92,603,000K
= 0.51

The debt-to-assets ratio of Bristol-Myers Squibb Company has shown a fluctuating trend over the past few years. It was relatively stable around 0.33 in the first three quarters of 2020. However, there was a noticeable increase to 0.41 by the end of December 2020. The ratio then decreased to 0.36 by September 2021 before experiencing a slight uptick to 0.37 by June 2022.

Subsequently, the ratio remained around 0.36 to 0.39 until December 2023. There was a significant increase in the debt-to-assets ratio to 0.50 by March 2024, and it further rose to 0.52 by June and September 2024. The ratio then stabilized at 0.51 by the end of December 2024.

This suggests that Bristol-Myers Squibb Company gradually increased its leverage compared to its total assets from 2020 to 2024, indicating a higher level of debt utilization in its capital structure, which might have been influenced by strategic decisions or evolving business needs during this period.